Rapidly Growing Cannabis Market Has Massive Impact on Multiple Industry Sectors

Rapidly Growing Cannabis Market Has Massive Impact on Multiple Industry Sectors
Rapidly Growing Cannabis Market Has Massive Impact on Multiple Industry Sectors

CannabisNewsWire Editorial Coverage: As the cannabis industry continues its rapid growth, its overall impact on other industry sectors is also dramatically increasing. There are 11 different sectors currently directly associated with the cannabis industry or play a supporting role, according to the Marijuana Index. While quite a few prominent companies focus on the cultivation, biotechnological product development and marketing of cannabis and hemp products, others engage in the support side of the industry. A great example is Global Payout, Inc. (GOHE) (GOHE Profile), which provides customized payment solutions to optimize global financial transactions. The company’s cannabis endeavors are undertaken by its MoneyTrac subsidiary, which offers solutions designed to overcome payment logistical problems and security threats in the cannabis industry. Among other cannabis-related activities, MoneyTrac is also collaborating with PotSaver brand, a supplier of medical cannabis listings. MoneyTrac’s solutions could prove beneficial for other companies establishing roots in the cannabis industry, including Medical Marijuana, Inc. (MJNA), mCig, Inc. (MCIG), Solis Tek, Inc. (SLTK), and Freedom Leaf, Inc. (FRLF).

With more companies expanding their reach into global markets, it is increasingly important to have access to payment solutions that suit the needs of customers anywhere in the world. The role of traditional banks is shrinking, driven by the demand for improved and innovative financial solutions. Global Payout, Inc. (GOHE) is focused on entrenching itself as a leader in financial technology (FINTECH) and providing customized payment solutions for any type of company that distributes money globally.

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